LIC Tax Saving Plans
LIC Tax saving plans with life insurance and tax saving under section 80Cis the best option for saving tax under section 80C of the Income Tax Act. LIC Tax Saving plans are available from 0 age. Tax Saving plans from LIC of India is 100% safe and guaranteed*.
Kindly read the offer documents before signing the policy documents.
Indian Income Tax rules are as follows :
No Tax up to Rs. 2, 50,000/-.
From Rs. 2,50,001/- to Rs. 5,00,000/- the tax would be 5%,
Rs.5,00,001/- to Rs.10,00,000/- the tax would be 20%
Rs 10,00,001/- and above the tax would be 30%
Not having a good Life Insurance policy is a matter of concern. Life Insurance should not be considered only for Tax Saving but also for insuring life. There are many instruments for Tax Planning like PPF, Mutual Funds, Postal Savings etc., but Life Insurance plays a major role in policyholders life as a lifelong companion.
Other investments would be able to fulfil your aim only on reaching the final years but Life Insurance policy would help your family members to meet their goals he leaves the world also. Life Insurance should be at #1 place in your investment list. You may be doing much investment in your life for dependent but nothing can be life LIC policy.
Benefits of LIC TAX SAVINGS PLANS
All Premiums paid under LIC Insurance Policies* are eligible for tax exemption under section 80C.
A Person can invest up to Rs.1,50,000/-under section 80 C which includes Life Insurance premium, PF, Tuition fee etc.,
The Survival Benefit amount received under MONEY BACK Plans is Tax-free under section 10(10d).
Any amount received from LIC like survival benefits, Maturity, Death claim are 100% Tax-free under Section 10(10d).
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